EVR or medical retirement

[Fishtoft4]

I am currently 63, 64 in Feb 2022 and currently only taking my aged 60 benefits as a section C member. If I was offered or took either VR or medical retirement and started to draw on my aged 65 pensions early would I still get a reduction for taking the aged 65 pensions early as a result of VR or medical retirement. Many thanks.

[heapsy]

Yes. It doesn't matter what the reason for finishing early is.

[Fishtoft4]

Thank you very much for your response so it looks like my choice would either be take a 5% reduction on my aged 65 benefits or freeze them till aged 65. Would be correct in saying even though my state pension age is 66 2024 I could draw on the aged 65 pensions at 65 without loss. However, if I go early ie when I’m 64 I would still receive the supplement from my aged 60 pension that I am currently drawing on without loss. Thank you to anyone gives input to these questions.

[heapsy]

If you are so close to your 65 benefits, if it was me personally, I'd wait until 65. Not that long to wait. You should get a supplement from 65 until your state pension. Not much. However, reducing your pension by taking it early lasts for the rest of your life. It could add up over time, if you live until 82 etc.

[Fishtoft4]

Thank you Heapsy